Adam McCann, WalletHub
Post-college debts represent one of the biggest financial burdens to Americans. In fact, student loans make up the second highest form of household debt after mortgages, totaling a record $1.7 trillion. But how burdensome are the individual loans? The average student-loan balance in 2020 was nearly $39,000. High balances combined with a payoff timeline that lasts into middle age force many graduates to significantly delay or forego other financial goals such as saving for retirement or buying a home. Paying back student loans has also become even more difficult during the COVID-19 pandemic, though the government has allowed temporary forbearance on federal student loans.
https://wallethub.com/edu/cities-with-the-most-least-student-debt/91069
Share on Facebook